Ukrainian Economy Minister Yulia Svyrydenko said there has been "significant progress" in negotiations with the United States toward a comprehensive economic partnership agreement that includes a deal on rare earth minerals.
In a post on X published on April 16, Svyrydenko said that while teams from both sides will continue working on specific points in the agreement, "a lot has already been worked out."
"We have now agreed with the American side to record this progress in the relevant memorandum of intent. We are preparing to complete the formalization of the agreement in the near future," she wrote, giving no further indication of the timing.
US President Donald Trump's administration has made securing rare earth supply chains a strategic priority, especially as global competition with China intensifies. The deal with Ukraine is seen in Washington as a way to diversify critical mineral sources and reduce US dependency on Chinese exports.
It's also seen by Trump as a way to be compensated for billions of dollars in support Washington has supplied to Ukraine in its war with Russia, sparked by Moscow's February 2022 full-scale invasion of its neighbor.
SEE ALSO: The Hurdles In Ukraine's Cease-Fire EffortTalks on a cease-fire in the conflict have been occurring in parallel to the economic partnership talks.
Svyrydenko said that once finalized, the draft will require ratification by the Ukrainian parliament, the Verkhovna Rada to ensure the agreement aligns with Ukraine's long-term national interests.
"It [the agreement] will create opportunities for investment and development in Ukraine and establish conditions for tangible economic growth for both Ukraine and the United States," she said.
Svyrydenko's statement came a day after President Volodymyr Zelenskyy described recent US-Ukraine discussions as "positive," particularly in the context of a parallel, high-stakes negotiation over critical minerals -- strategic resources essential to modern technologies and national security.
Zelenskyy confirmed that multiple meetings were ongoing and encouraged continued public attention.
However, the negotiations have come against the backdrop of lingering tensions between Trump and Zelenskyy.
On March 30, Trump publicly accused Zelenskyy of attempting to walk away from the critical minerals deal, warning such a move would trigger "serious consequences."
The accusation followed a report by Bloomberg News that Ukraine was preparing to propose key changes to a draft agreement, particularly regarding rare earth minerals -- resources vital for electronics, defense systems, and renewable energy technologies. The revisions reportedly promise to increase American investments in Ukraine's mining sector.
SEE ALSO: In Ukraine's Lithium Belt, Hopes That A Minerals Deal Will Bring An Economic BoomAccording to The Financial Times and Bloomberg, the United States is pushing for a new strategic framework that would secure access to Ukraine's energy assets and deepen bilateral cooperation across critical sectors.
As Kyiv and Washington edge closer to formalizing both the broader economic partnership and the strategic minerals agreement, these talks could reshape Ukraine's postwar economy and the geopolitical balance of energy and technology supply chains in Europe and beyond.